TRAXX Studios

The overwhelming demand from creators for an individual ownership structure that is interoperable with this permissionless protocol has pushed us to launch TRAXX Studios.

Every artist around the world, regardless of status, can build their own “studio” on top of the TRAXX Protocol. They will own the smart contract, the NFTs, or any other creation built within that particular studio. Artists can create a predetermined, limited number of "Studio Tokens” that allow fans to be a part of their current and future creations. Fans will have the opportunity to buy these tokens to support the artists’ work. Furthermore, these studio tokens can be configured to give token-holders several benefits, such as a percentage of profits, meet and greets access to VIP seats, and opportunities to buy exclusive, limited edition merchandise. This system incentivizes the artists to grow creatively and engage meaningfully with their audience so that their own Studio Tokens increase in value. With the middlemen removed from the equation, artists can now interact directly with the community they have created through the protocol-based TRAXX Studio. Most importantly, it is entirely up to the artist to decide what portion of tokens to sell, putting them in full control of their own income.

How it works

The TRAXX Studio is a smart contract that will live on-chain on top of TRAXX Protocol. Although the studios will be chain-agnostic, the first implementation will be based on Polygon. Once the studio has been created, Studio Tokens will be generated at a fixed quantity, with no more being generated in the future. Best of all, any artist can join the platform by generating a smart contract for the studio. The artist will be able to configure certain parameters for their tokens such that additional functionality can be added. Decentralisation is the key.

TokenTraxx aims to further decentralise the ecosystem starting with the following two key factors.

1. TokenTraxx as a company aims to collect no fees/commission from running any activity on the protocol.

2. Fees generated by all the activities within the TRAXX Studio require TRAXX tokens to be used for transaction fees. This concept keeps the entire ecosystem decentralised, and thus self-sustained.